Geothermal Energy Market 2021 – 2022 | Opportunities Regions, Types, Applications, Business Development

Geothermal energy is the use of energy generated from theinternal heat of the Earth’s crust. The difference in temperature between the core and the surface of the planet drives a gradient conducting that way. This makes the rocks – melt, move upwards, and bring heat through various geographical phenomena like geysers, lava mountain etc.

Geothermal energy is sustainable, scalable, and environment & cost friendly. Historically, geothermal energy has been used for bathing and space heatingduring winter, in limited geographic locations near the edge of tectonic plates of Earth. But now it is majorly used all over the world for electricity generation. They produce much lower greenhouse gases in comparison to traditional fossil fuels.

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The major end-users of geothermal energy are in theelectric power, space heating, tourism, fisheries, and agricultural industry.The need for electrical power is ubiquitous. Countries that lack indigenous fossil fuels and island nations are using geothermal energy for its supply.Without converting into electricity, geothermal energy is directly used in district and home heating solutions, inside greenhouses, for mineral recovery, and for industrial processes.The use of natural hot springs for spas has been a major tourist attraction across countries.

Market Dynamics
The demand for geothermal energy is mainly driven by its immense reserves, no fuel requirements, sustainable nature, government incentives, and technological advances in the sector.High fossil fuel prices have driven the recent capacity additions.

This increasing demand is constrained by high capital cost, low efficiency, legal frameworks& protections, and competition from other energy sources. Another impediment isadverse effects on the environment like pollution and land instability. These same constraints entail multi-billion opportunity for growth in this industry as the technology improves and costs come down.

Market Segmentation
The market can be segmented on the basis of the geothermal energy form, temperature grades, heat movement & concentration control mechanisms, technology, and by its application.

Segmentation based onthe form includes vapor and liquid. Based on temperature grades, it is classified as high, intermediate, and low.Based on the heating mechanism, it can be segmented as convective and conductive. The market can be divided on the basis of technology such as power generation, steamfield, reservoir, direct use, and ground source geoexchange.Based on application, it can be classified on the basis of theindustrial sectors of its end users.

All of the above segmentations are fluid as new technologies emerge for different sectors. Additionally, the geographical concentration of the markets and the makers give an additional layout to these segments.

Regional/Geographic Analysis
APAC (Philippines, Indonesia) is the leader in electricity generation using geothermal energy, followed by North America (USA, Mexico),Europe (Italy, Iceland), Africa (Kenya), and New Zealand. The direct uses of geothermal energy are concentrated in APAC (China, Turkey, Japan),then Europe (Iceland, Hungary), and North America (USA).

Although OECD countriescurrently driveand are the largestmarkets, future growth will come from developing countries in APACand Africa with their large reserves and booming economies.

Technological advances such as improved drilling & extraction, and newer binary cycle power plants, are removing the geographical limits of geothermal energy and increasing its profitability. Geothermal heating using ground source heat pump is one of the fastest growing areas. Planned capacity additions have been increasing and may accelerate due to climate change concerns.

Key Players
Some of the major players in the market includeAboitiz, BH Energy, CFE,Calpine, Chevron, EDC, Enel Green Power,Geodesa, KenGen,Mighty River, Ormat, PGE, PLN, and Zorlu. There are also new entrants via joint venture partnerships and passive investments.

Report Contents Regional Analysis Report Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

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Eastern Europe
Rest of Eastern Europe

Asia Pacific
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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